Internet Solutions, a Convergence Partners investee, has bought 12-year-old online media streaming service Antfarm for an undisclosed sum. Launched in 2002, Antfarm provides streaming services live or on demand to the public and to corporate and government customers.
Internet Solutions connectivity and carrier services executive Greg Montjoie says video will be “the key driver” of the Internet economy in coming years. “Streaming media services, particularly video content, are growing in double digits, both in the consumer and business space.”
Given the direction and speed at which the market is moving, both companies felt they could achieve more as a merged entity, Montjoie says.
Plans in the short term include engaging with business customers. The consumer space will not be the primary focus.
“We will continue to offer services to organisations and build on products that Antfarm currently offers,” says Montjoie. “It’s not part of our game to compete with local leaders in the space that offer bundled or bouquet offerings, or with Netflix and Hulu.”
However, Internet Solutions will keep its options open in the longer term and may offer video content to consumers at some point.
Antfarm will continue to provide local radio stations with technology, encoding and distribution for their online streaming services.
Internet Solutions hopes to offer Antfarm services elsewhere in Africa by providing applications and content to end users.
Antfarm sales and marketing director Andrew Aitken says that the deal gives it the ability to expand “aggressively” on the back of Internet Solutions’ cloud computing and network infrastructure.
As a rapidly growing company it would take Antfarm much longer to achieve this growth organically.
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